If real GDP rises from $500 billion to $510 billion,the economic growth rate is
A)10 percent.
B)1.96 percent.
C)2 percent.
D)-2 percent.

Name: If real GDP rises from $500 billion to $510 billion,the economic growth rate is A)10 percent. B)1.96 percent. C)2 percent. D)-2 percent.
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Question

Quizplus · Accepted Answer

The economic growth rate can be calculated using the formula: [(New GDP - Old GDP)/Old GDP] x 100. Plugging in the values, we get [(510-500)/500] x 100 = 2 percent. Therefore, the correct answer is C.

If Real GDP Rises from $500 Billion to $510 Billion,the